Vior Acquires a GOLD Project at Lake Mirabelli, IN James BAY, Quebec
VIOR ACQUIRES A GOLD PROJECT AT LAKE MIRABELLI,
IN JAMES BAY, QUEBEC
QUEBEC, CANADA, September 23rd , 2020 - SOCIÉTÉ D’EXPLORATION MINIÈRE VIOR
INC. (« Vior » or the « Corporation »), (TSX-V: VIO, FRANKFURT: VL51) – is pleased to
announce the acquisition of a new gold project in the Lake Mirabelli area, located approximately
300 kilometers north of town of Matagami, in the James Bay region of Quebec. The Mirabelli
project consists of two separate blocks , the North and the South, located near the James Bay
Road and covering an area of 75.6 km2 for a total of 142 claims, of which 56 are currently in
process.
The Mirabelli project is characterized by the presence anomalous gold grain counts in till samples.
Counts of up to 40 grains of gold have historically been obtained from heavy mineral concentrates
in the North Block, while a count of 57 gold grains was obtained in the South Block, including 3
pristine grains. More recently, a validation till sampling program carried out at 9 sites located near
the historical samples of the North Block, provided varying counts of between 3 and 82 gold grains
for an average of 18 gold grains over a 3 km2 area. The area covered by the North and South
Blocks of Mirabelli encompasses the potential source region of gold-in-till samples in the glacial
up-ice direction to the northeast.
PRESS RELEASE
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Mirabelli’s North and South blocks are located near the contact zone between the geological sub-
provinces of Nemiscau and La Grande, where several gold prospects and deposits are found in
the Eastmain River sector. Aerial magnetic data from the North block of Mirabelli suggests the
presence of a band of volcanic rocks or iron formations, trending N060, which would extend for
more than 16 kilometers.
The Corporation is planning to carry out till sampling lines this fall to better define the source area
of the gold gra ins on Mirabelli. In preparation for this program , the Corporation has initiated,
through an independent consultant, the processing of historical aerial geophysical data in order
to better optimize the collection of till samples. A follow-up prospecting program will be carried
out in Summer 2021.
Vior acquired the Mirabelli project in a non -arm's length transaction from two co-owners of the
Mirabelli project (the “Vendors”), one of whom is Mr. Eric Desaulniers, a member of the
Corporation’s Board of Directors. Under the asset purchase agreement (the “Agreement”), Vior
can acquire a 100% interest in the Mirabelli project by making payments totaling $ 50,000 over a
twelve-month period and completing exploration expenditures totaling $ 225,000 over a twenty-
four-month period. The Vendors will retain a 2% NSR royalty, half of which can be repurchased
for $ 1 million. In addition, the Corporation shall pay to the Vendors the following milestone
payments upon the occurrence of the following events, if and when such events occur: $250,000
in cash or at the election of Vior, in shares, upon the completion of a resource estimate on the
project and $1,000,000 in cash or at the election of Vior, in shares, upon completion of a feasibility
study on the project. Should Vior elect to pay these milestone payments in shares, such payments
will be subject to the prior approval of the disinterested shareholder s of Vior. The TSX Venture
Exchange has conditionally accepted this transaction, with the exception of the milestone
payments which will be subject to further regulatory approval, subject to the Corporation filing
certain compliance documents, including the issuance of the present news release, on or before
November 18, 2020.
In light of the participation of Mr. Desaulniers, a Director of Vior, in this transaction, t he entering
into the Agreement is considered to be a related party transaction under Multilateral Instrument
61-101, but is exempted from the requirements to obtain a formal valuation and to obtain minority
approval, as the consideration payable to the related party under the Agreement does not exceed
25% of Vior’s market capitalization. The independent directors of Vior have approved the
Agreement. The Company is relying on exemptions from the formal valuation and minority
shareholder approval requiremen ts provided under sections 5.5(a) and 5.7(1)(a) of Multilateral
Instrument 61-101.
In other news and in connection with the Skyfall project (see Press Release dated August 24,
2020), Vior wishes to clarify that a cash payment of $3,300 and the issuance of 100,000 shares
of the Corporation were made to two prospectors for 35 claims.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Mr. Marc
L'Heureux, P.Geo., who is the Corporation's Qualified Person as per NI 43-101.
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About Vior
Vior is a junior mining exploration corporation based in Quebec whose corporate strategy is to
generate, explore, and develop high quality projects in proven and favourable mining jurisdictions
in North America. Through the years, Vior’s management and technical team have demonstrated
their ability to discover several gold deposits and many high-quality mineral prospects.
For further information, please contact:
Mark Fedosiewich Marc L’Heureux
President and CEO Vice-president, Exploration
Tel.: 613-898-5052 Tel.: 450-646-1790
[email protected] [email protected]
Website: www.vior.ca
SEDAR: Société d’exploration minière Vior inc.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in
the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.